3-7-13 6:15 AM EST
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LONDON (MarketWatch) -- Legendary investor Carl Icahn wants Dell Inc. DELL to pursue a leveraged recapitalization and pay a $9 per share dividend if shareholders vote down the computer maker's proposed $13.65-a-share takeover bid, the Dell special committee said Thursday. In a letter released by Dell, Icahn says he has a "substantial" position and said the dividend could be funded from a combination of cash, existing receivables and new debt. Icahn said the "stub" of Dell would be valued at $13.81 a share, giving a total value of $22.81 per share. The committee said it welcomes the participation of Icahn and other investors as it conducts its "go shop" process that is due to run through March 22.
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